Protecting your digital estate is very important. You can do this in four basic steps. You don’t need to go to court neither do you need to visit the police station. This can done by you. However, you may need to contact an estate planning attorney along the way. You will definitely need advice and some help.
The world has become so digitalized that there is hardly anyone without one digital asset or the other. Talk about monetized YouTube channels, Instagram, crypto currency among others. All of these have the potential to rake in profits. It wouldn’t be good to have them just go to waste when you pass away, and that’s what will happen if no one knows your password to such accounts.
It therefore becomes important that you carry out estate planning for your digital assets. Since digital assets are not exactly handled as tangible assets, there are processes involved.
How do you plan for your digital assets?
Outline all your digital assets and their login details
Make a list of those digital assets you own such as your social media accounts, your crypto currency wallet, your online bank accounts, your emails, etc. Then on the same list state the passwords of each digital assets. Afterward, go ahead and store this info in a management program secured with a password. You can also store this information on a UB device.
Keep your list in a secured location
When your will is filed in court, it could become accessible by the public. This makes it a very terrible place to secure your list. Rather than store your list in your will, store it in a place that your executor and loved ones are aware of.
Create a plan
What do you want to happen to each of your digital assets? How do you want them to be managed? Create a well-detailed plan that contains your wish regarding your accounts.
Document it in your will
Just as you address your house and business in your will, you also need to address your digital assets as well. You don’t need to create a separate will for your digital assets. No, that would be invalidating your former will. If you have already written a will, simply make a codicil to the will; here, you address your digital assets as explicitly as possible. An estate planning attorney can help you.
Plan your digital assets with an Estate Planning Attorney
Estate planning can be quite complex especially in the digital era we find ourselves in. This plan can determine the future of your children, spouse and those you care about. For this primary reason, it is important you ensure that you create a quality estate plan. An estate plan that can cater for your family and those you care about when you are no more. Creating such an estate plan is not easy, truth be told. If you aren’t an experienced attorney you’ll find it very difficult to create such estate plan.
Would you like to gamble with the destiny of your children by creating an estate plan yourself? Are you confident of creating an error-free estate plan? One capable of securing your digital assets? Can you create an estate plan that is in line with your wishes regarding your estate? Tasks like this are left for the professionals. You need the help of a competent estate planning attorney if you want the best estate plan. You also need their advice on how to secure your digital assets. These professionals are experienced. They know the system like the back of their hands. They are also current with the estate laws of your state. What more can you ask for?
As one of the best Law Firms in New York, we boast of some of the best Attorneys in the State. Contact us, let’s help you plan your estate.
Estate planning is evolving every year. The estate planning process of two decades ago isn’t the same as now. Things have changed. The evolution of the digital world has twitched some aspects in the estate planning process. Estate planning will keep changing as the world keeps evolving.
Contact an estate planning attorney near you today
You may not be able to do this all by yourself. Thus, it is very important that you contact an estate planning attorney for advice regarding how to properly secure your digital assets. If you have questions concerning other aspects of your estate plan, you can also ask.